A challenging time may be coming for retailers.
Data released by Stats NZ has revealed a 2% fall in December’s spending compared to the month prior.
Spending on consumables such as groceries experienced the smallest fall at 0.1%, while things such as furniture and clothing are down by 2% and 2.9% respectively.
Infometrics Principal Economist, Brad Olsen, told Tim Dower that the data reflects that households are being more cautious with their spending.
He said the 1.6% increase in November was likely caused by early Christmas shopping.
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